Shiba Inu has emerged as the second-most held cryptocurrency after Ether by the top 100 Ethereum wallet addresses. The meme coin rose to an all-time high of $0.00008845 in October of 2021. It has an average of $629 million in daily trading volume so far this month, suggesting impressive investor interest in the coin. At the time of writing this article, SHIB was down by 24% in the last 24-hours, and trading at $0.00001072.
Reports highlight Shiba Inu as the second-most held cryptocurrency with an average amount held of about $9.36 million, and an average token quantity of 470 billion SHIB. Demand for Shiba Inu by the top 100 Ethereum wallet addresses has investors increasing their holdings. They also hold USDC, FTX token (FTT), USDT, Wrapped Bitcoin, and Polygon MATIC.
With growing popularity, Shiba Inu grew 46,000,000% in 2021. To hit $1, it just needs to surge 5,000,000%. SHIB enthusiasts say the meme coin has overcome tremendous odds and delivered explosive gains in an incredibly short amount of time. Shiba Inu has a total token supply of about 589.7 trillion. If it does reach $1, it has to have a market cap of $589.7 trillion. This would be equivalent to 453 times the popular Bitcoin’s peak valuation of nearly $1.3 trillion. Bitcoin is also 360 times greater than the total combined cryptocurrency market cap of $1.64 trillion.